The Coca-Cola Company (NYSE:KO) Shares Purchased by Fulton Bank N.A.

Fulton Bank N.A. lifted its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 10.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,889 shares of the company's stock after buying an additional 8,284 shares during the quarter. Fulton Bank N.A.'s holdings in Coca-Cola were worth $6,366,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Voleon Capital Management LP bought a new position in shares of Coca-Cola during the 4th quarter valued at approximately $2,513,000. Rice Partnership LLC lifted its stake in Coca-Cola by 7.1% in the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company's stock worth $6,397,000 after purchasing an additional 6,793 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in Coca-Cola by 62.2% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 26,708 shares of the company's stock valued at $1,663,000 after acquiring an additional 10,240 shares during the period. Lockheed Martin Investment Management Co. grew its holdings in shares of Coca-Cola by 16.3% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 218,985 shares of the company's stock worth $13,634,000 after purchasing an additional 30,650 shares during the last quarter. Finally, abrdn plc lifted its holdings in Coca-Cola by 0.3% during the 4th quarter. abrdn plc now owns 7,238,640 shares of the company's stock valued at $447,963,000 after buying an additional 22,904 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Coca-Cola Stock Down 0.7%

Shares of NYSE KO traded down $0.48 during mid-day trading on Thursday, hitting $70.89. The company had a trading volume of 12,394,456 shares, compared to its average volume of 15,762,500. The business's 50-day simple moving average is $71.41 and its 200 day simple moving average is $67.45. The company has a market capitalization of $305.11 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the previous year, the business earned $0.72 EPS. Coca-Cola's revenue for the quarter was down .7% on a year-over-year basis. On average, analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's payout ratio is 81.60%.

Insider Activity at Coca-Cola

In other news, CFO John Murphy sold 88,658 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Quincey sold 266,403 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the sale, the chief executive officer now owns 275,946 shares of the company's stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 496,164 shares of company stock valued at $35,671,587 in the last ninety days. Insiders own 0.97% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on KO shares. Royal Bank of Canada boosted their price target on Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Piper Sandler lifted their target price on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. increased their price target on Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Morgan Stanley raised their price target on Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Finally, DZ Bank upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Coca-Cola presently has a consensus rating of "Buy" and an average price target of $75.81.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.